Lilly profit beats forecasts, raises '09 outlook
Eli Lilly and Co reported far better second quarter earnings on Wednesday on higher sales of its prescription drugs, and raised its 2009 earnings forecast
The Indianapolis drugmaker earned $1.16 billion, or $1.06 per share. That compared with $959 million, or 88 cents per share, in the year-earlier period, when Lilly had a favorable tax rate.
Excluding special items, Lilly earned $1.12 per share. Analysts on average expected $1.02 per share, according to Reuters Estimates.
Quarterly revenue rose 3 percent to $5.29 billion, matching the Reuters Estimates forecast.
Lilly expects full-year 2009 earnings, excluding special items, of $4.20 to $4.30 per share. It had previously projected a profit of $4 to $4.25 per share.
(Reporting by Ransdell Pierson; Editing by Derek Caney)
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